01:33 PM EDT, 03/28/2024 (MT Newswires) -- Financial stocks advanced in Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.4%.

The Philadelphia Housing Index climbed 1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.5%.

Bitcoin (BTC-USD) rose 1.8% to $70,705, and the yield for 10-year US Treasuries was little changed at 4.20%.

In economic news, the seasonally adjusted number of initial jobless claims dropped by 2,000 to 210,000 in the week ended March 23, the US Department of Labor said. The consensus was for 212,000 in a survey compiled by Bloomberg.

Real gross domestic product in the December quarter grew at a 3.4% annualized rate, up from a 3.2% gain projected in the second estimate. The consensus in a survey compiled by Bloomberg was for economic growth to remain unrevised.

The University of Michigan's consumer sentiment index was revised higher to a reading of 79.4 for March from the 76.5 print in the preliminary estimate, above the expectations for no revision in a survey compiled by Bloomberg.

In corporate news, Allstate ( ALL ) is poised for a "reversal of fortune" with an earnings rebound in 2024 to continue through 2026 as rate increases last support underwriting margins, BofA Securities said. The investment firm reiterated its buy rating on Allstate ( ALL ) and increased its price target of $209 from $189. Allstate ( ALL ) shares rose 1.8%.